(Editor's note: The following article, originally published Dec. 21, 2004, is being re-transmitted for technical reasons.) On Dec. 21, 2004, Standard&Poor's Ratings Services assigned its 'BBB-' corporate credit rating to Capital Automotive REIT (CARS) and its operating partnership Capital Automotive L.P. In addition, ratings were assigned to the company's $125 million 6.75% monthly income notes due 2019 and $163.8 million preferred securities. The outlook is stable (see list). The ratings acknowledge the company's good quality portfolio of auto dealership properties located in growth markets, minimal near-term lease and debt maturities, and solid tenant lease rent coverage. Tenant concentration is a credit concern; however, this is allayed to some degree by brand and revenue diversity. Additional credit considerations include
